Best Private Bank Singapore UHNW
J.P. Morgan Private Bank
Best Private Bank – Singapore UHNW
Paul Thompson
head of Singapore and Southeast Asia
“We are honoured to receive the prestigious Best Private Bank – Singapore UHNW award, recognising our leadership position in the market and across the region.
“We are committed to developing and hiring the industry’s top talent in Asia to deliver seamless client service through our bespoke Goals Based Planning approach and investment platform, which offers clients the flexibility to choose what works best for them to meet their family’s goals.
“Following record revenue and surpassing growth expectations, our team has gained significant momentum, especially as we celebrate our 60th anniversary in Singapore and 100th anniversary in Hong Kong with signature and flagship events across Asia.
“This acknowledgement highlights J.P. Morgan Private Bank’s consistent, first-class wealth management services for our clients across the region.”
What was behind the judges’ decision?
- J.P. Morgan Private Bank effectively demonstrated how it has deepened the collaboration between its private and investment banking divisions in the context of UHNW clientele in Singapore, resulting in enhanced services and tailored solutions for clients. The bank articulated relevant and complex examples of referrals from the investment bank to the private bank while also ramping up internal training initiatives and client-focused events designed to foster a unified, one-bank approach.
- During the submission process, J.P. Morgan Private Bank presented the Judging Panel with quantifiable evidence of how it is deepening wallet share among UHNW clientele in the important Singapore market via growth in assets under management and net new assets (NNA). More crucially, though, the lender has been successful in converting the majority of this NNA into investment solutions relevant to clients’ risk appetite, most notably into the lender’s market-leading alternatives platform.
- While many private banks talk the talk on digital innovation, J.P. Morgan Private Bank has truly excelled when it comes to implementing cutting-edge tools for its discerning UHNW clientele. In addition to digitalising crucial elements of trade execution, the bank is leading the way in the region in terms of artificial intelligence utilisation in ways that liberate the relationship manager to focus more keenly on how they can add further value when managing some of Asia Pacific’s most sophisticated wealth clientele.
What we said…
“J.P. Morgan Private Bank may not strive to be the largest wealth manager in the industry, but it is determined to be a market leader in aspects including sophisticated products, client servicing, and overall experience,” said Daniel Shane, editor of Asian Private Banker and head of the Judging Panel for the Awards for Distinction 2024.
“The US bank has proved itself as a trusted partner for Singapore’s discerning ultra high net worth (UHNW) clientele with its differentiated, goals-based approach that covers discretionary portfolio management (DPM), advisory, and execution. The investment piece is augmented by a richly holistic wealth and succession planning offering staffed by one of the most experienced teams in Asia Pacific. Finally, J.P. Morgan’s 23 Wall platform ties together the best of the lender’s private banking and investment banking capabilities to provide strategic advice across UHNW families’ private assets, operating companies, real estate and other direct investments.
“For all of the reasons noted above, Asian Private Banker is proud to honour J.P. Morgan Private Bank with the prize of Best Private Bank – Singapore UHNW at the Awards for Distinction 2024. We would like to congratulate everyone at the lender on this richly deserved accomplishment.”
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